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June 06, 2024
2 More Charged In Illegal Sports Betting Scheme Surrender
Two men accused of helping run an illegal sports betting scheme involving an NBA player surrendered to federal authorities Thursday following their alleged co-conspirator's Monday arrest as he prepared to leave the United States on a one-way ticket to Australia.
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June 06, 2024
Kwok's 'Whole Movement Is A Scam,' Ex-Fundraiser Tells Jury
A former top deputy in exiled Chinese billionaire Ho Wan Kwok's anti-Chinese Communist Party movement testified in Manhattan federal court this week that she raised millions of investor dollars out of a deep belief in the cause, but has since realized the entire enterprise was a "scam."
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June 06, 2024
AI Co. UiPath's $70M Award Over Chinese Code Theft OK'd
A New York federal judge has affirmed an unopposed $70 million arbitration award in favor of U.S. artificial intelligence software and robotic process automation company UiPath against a China-based competitor over allegedly stolen source code.
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June 06, 2024
Trump Media SPAC Sponsor Must Post Bond In Chancery Row
Dissenting members of the LLC sponsor for the blank check company that took Trump Media & Technology Group public in March must post a hefty 10% security for potential losses on more than 1.5 million shares — now trading at $46 — snarled in a sponsor control dispute.
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June 06, 2024
Former New Jersey AG Recalls 'Gross' Meeting With Menendez
A U.S. Securities & Exchange Commission official took the stand in the bribery trial of Sen. Robert Menendez on Thursday, testifying that he shut down "gross" inquiries by the congressman while the official was serving as New Jersey's attorney general.
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June 06, 2024
Flaster Greenberg Launches Sports Law Practice Group
Less than two months after launching an art law practice, East Coast firm Flaster Greenberg PC has opened a sports law practice group with a particular focus on women's sports.
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June 06, 2024
Crowell & Moring's Latest Ex-GC Boosts Fin Services Team
As more general counsels look to opportunities in BigLaw, Crowell & Moring announced Thursday that it has hired the former general counsel and chief compliance officer at investment firm Commonwealth Asset Management.
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June 06, 2024
White Collar Pro Robert Frenchman On His Move To Dynamis
Longtime white collar defense lawyer Robert S. Frenchman is adjusting to a new role at boutique law firm Dynamis LLP, the latest move in a long career that has focused on a niche clientele: financial traders accused of crimes.
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June 06, 2024
Feds Copied Privileged Doc In OneTaste Charges, Execs Say
Two executives of sexual wellness company OneTaste have renewed their bid to throw out the indictment against them on forced-labor conspiracy charges, claiming prosecutors used a privileged document to tailor the charges.
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June 06, 2024
Aquiline Secures More Than $3.4B Across 2 New Funds
Financial services-focused private investment firm Aquiline Capital Partners LP on Thursday announced that it garnered more than $3.4 billion of capital across its two latest funds, a financial services-focused private equity fund and a continuation fund.
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June 05, 2024
CohnReznick Scores Quick Exit In Tax Scheme Suit
A New York federal judge agreed to toss a housing partnership's suit accusing accounting firm CohnReznick LLP of professional negligence and fraud, finding that the district court doesn't have jurisdiction over the dispute.
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June 05, 2024
Union Asks NY Court To Toss Musicians' Representation Row
An American Federation of Musicians local urged a New York federal court Wednesday to dismiss duty of fair representation claims from two orchestra musicians, arguing that the plaintiffs didn't raise allegations of "any plausible violation" of an arbitration award reinstating the duo.
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June 05, 2024
Judge Denies Fubo Bid For Texts On Streaming Bundle
A New York federal judge on Wednesday denied FuboTV's bid to obtain text messages from executives at Disney, ESPN, Fox and Warner Bros. Discovery discussing the joint venture streaming plan at the heart of Fubo's ongoing antitrust suit.
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June 05, 2024
Sam Ash Approved For Ch. 11 Sale Process With Baseline Bid
Bankrupt music store chain Sam Ash Music Corp. received approval Wednesday from a New Jersey bankruptcy judge for procedures governing its Chapter 11 asset sale process after negotiating concessions with its lenders, the official committee of unsecured creditors and the U.S. Trustee's Office.
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June 05, 2024
Debevoise-Led Ambac Unveils 2 Deals Totaling $702M
Debevoise & Plimpton LLP-led Ambac Financial Group on Wednesday announced two deals totaling $702 million, as the insurance holding company said it agreed to sell its financial guarantee business for $420 million in cash and separately announced that it will purchase a majority stake in Beat Capital Partners for roughly $282 million.
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June 05, 2024
NY Judge Says Block, Intuit Are Part Of Visa Antitrust Deal
Intuit and the company behind Square payment technology may be blocked from most swipe-fee antitrust claims against Visa and Mastercard under a newly unsealed New York federal court decision holding that the companies can't have opted out of a merchant settlement because they were never part of that class.
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June 05, 2024
Cannabis Co. Protests $4M Award, Asserting Arbitrator Error
Cannabis company Neptune Wellness Solutions Inc. urged a New York federal court Tuesday to upend a nearly $4 million arbitration award to an entrepreneur whose business merged with the Canadian company, asserting that the winnings, specifically attorney fees, should have been reduced by 98%.
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June 05, 2024
Archegos Ex-Exec Who Sued Fund Testifies At Founder's Trial
An investment pro who claims in a $50 million suit that he was pressured to defer his Archegos pay testified Wednesday in the $36 billion market manipulation case against fund founder Bill Hwang that Hwang called the shots and was rarely questioned.
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June 05, 2024
Trump Gag Order Still Needed Through Sentencing, DA Says
Manhattan District Attorney Alvin Bragg's office has asked a judge not to lift the gag order on Donald Trump before the convicted former president's sentencing next month, arguing in a letter released Wednesday that there is still a need to "protect the integrity" of the hush money case.
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June 05, 2024
NY Gov. Indefinitely Halts Manhattan Congestion Pricing
New York Gov. Kathy Hochul on Wednesday shelved congestion pricing just weeks before officials were set to implement a fee for vehicles entering Manhattan's busiest corridor, in a dramatic about-face following intense backlash and litigation from residents and business owners grappling with the high cost of living.
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June 05, 2024
Google Hit With IP Suit By Textbook Cos. Over Pirated Books
A group of textbook publishers hit Google LLC with a copyright and trademark infringement lawsuit Wednesday in New York federal court, accusing the tech giant of allowing advertisements from websites that allegedly sell pirated books and ignoring take-down requests from the publishers for years.
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June 05, 2024
Federal Judges Facing Scrutiny For Clerk-Hiring Boycotts
The federal judiciary must take a look at its judges' hiring practices in the wake of some jurists' public refusal to hire students from certain law schools over on-campus political activity over the Israel-Hamas war, a nonprofit government watchdog said Wednesday.
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June 05, 2024
Lippes Mathias Merges With Syracuse Health, Business Firm
Buffalo, New York-based firm Lippes Mathias LLP said this week that it had created one of the state's largest healthcare attorney teams outside New York City in combining with Syracuse business and healthcare boutique CCBLaw, a move that will ultimately add 11 lawyers and eight nonlawyer professionals to its ranks.
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June 05, 2024
'Miracle Worker': Menendez's Wife Was Given New Car, Jurors Told
U.S. Sen. Robert Menendez's wife received a $67,000 Mercedes-Benz convertible thanks to the efforts of two of the congressman's associates, one of whom she called a "miracle worker," jurors heard Wednesday in the government's bribery case in New York federal court.
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June 05, 2024
From Small Town To 11th Circ., Nominee Pledges 'Open Mind'
A nominee for an Eleventh Circuit seat on Wednesday discussed his small-town upbringing, award-winning career as a prosecutor and the "obligation" he feels to be a role model for others considering a career in the law, saying he would approach cases with an "open mind" if confirmed to the federal appeals court.
Expert Analysis
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Reassessing Trade Secrets Amid Proposed Noncompete Ban
The Federal Trade Commission's proposed ban on noncompete agreements as well as state bans make it prudent for businesses to reevaluate and reinvigorate approaches to trade secret protection, including knowing what information employees are providing to vendors, and making sure confidentiality agreements are put in place before information is shared, says Rob Jensen at Wolf Greenfield.
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NYC Cos. Must Prepare For Increased Sick Leave Liability
A recent amendment to New York City's sick leave law authorizes employees for the first time to sue their employers for violations — so employers should ensure their policies and practices are compliant now to avoid the crosshairs of litigation once the law takes effect in March, says Melissa Camire at Fisher Phillips.
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NY's Revamped Card Surcharge Ban Is Unique Among States
Newly revised New York legislation bolsters the state's ban on credit card surcharges, potentially reinvigorating similar laws across the country despite the fact that many of them have been ruled unconstitutional, say Tom Witherspoon and Audrey Carroll at Stinson.
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Legislative And Litigation Trends In Environmental Advertising
Companies that tout their products' environmental benefits can significantly reduce the risk that they will face allegations of greenwashing by staying up to date on related Federal Trade Commission guidance, state requirements and litigation trends, say Raqiyyah Pippins and Kelsie Sicinski at Arnold & Porter.
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Employer Best Practices In Light Of NY Anti-Trans Bias Report
A recent report from the New York State Department of Labor indicates that bias against transgender and nonbinary people endures in the workplace, highlighting why employers must create supportive policies and gender transition plans, not only to mitigate the risk of discrimination claims, but also to foster an inclusive work culture, says Michelle Phillips at Jackson Lewis.
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Preparing For DOJ's Data Analytics Push In FCPA Cases
After the U.S. Department of Justice’s recent announcement that it will leverage data analytics in Foreign Corrupt Practice Act investigations and prosecutions, companies will need to develop a compliance strategy that likewise implements data analytics to get ahead of enforcement risks, say attorneys at Cozen O'Connor.
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2nd Circ. Ruling Will Guide Social Media Account Ownership
The Second Circuit’s recent decision in JLM Couture v. Gutman — which held that ownership of social media accounts must be resolved using traditional property law analysis — will guide employers and employees alike in future cases, and underscores the importance of express agreements in establishing ownership of social media accounts, says Joshua Glasgow at Phillips Lytle.
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Open Questions After Elastos Crypto Class Action Settlement
The recent settlement in Owen v. Elastos Foundation resolving a class action fight over whether Elastos was required to register an initial coin offering with U.S. regulators has raised several questions that may be of interest to lawyers litigating cryptocurrency-related cases, including whether a crypto token constitutes a security under U.S. law, says Bradley Simon at Schlam Stone.
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Storytelling Strategies To Defuse Courtroom Conspiracies
Misinformation continues to proliferate in all sectors of society, including in the courtroom, as jurors try to fill in the gaps of incomplete trial narratives — underscoring the need for attorneys to tell a complete, consistent and credible story before and during trial, says David Metz at IMS Legal Strategies.
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$32.4M Fine For Info Disclosure Is A Stark Warning For Banks
The New York State Department of Financial Services and the Federal Reserve's fining of a Chinese state-owned bank $32.4 million last month underscores the need for financial institutions to have policies and procedures in place to handle confidential supervisory information, say attorneys at Sidley.
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EDNY Ruling Charts 99 Problems In Rap Lyric Admissibility
A New York federal court’s recent ruling in U.S. v. Jordan powerfully captures courts’ increasing skepticism about the admissibility of rap lyrics as evidence in criminal trials, particularly at a time when artists face economic incentives to embrace fictional, hyperbolic narratives, say attorneys at Sher Tremonte.
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Series
Coaching High School Wrestling Makes Me A Better Lawyer
Coaching my son’s high school wrestling team has been great fun, but it’s also demonstrated how a legal career can benefit from certain experiences, such as embracing the unknown, studying the rules and engaging with new people, says Richard Davis at Maynard Nexsen.
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Opinion
New Rule 702 Helps Judges Keep Bad Science Out Of Court
A court's recent decision to exclude dubious testimony from the plaintiffs' experts in multidistrict litigation over acetaminophen highlights the responsibility that judges have to keep questionable scientific evidence out of courtrooms, particularly under recent amendments to Federal Rule of Evidence 702, says Sherman Joyce at the American Tort Reform Association.
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SG's Office Is Case Study To Help Close Legal Gender Gap
As women continue to be underrepresented in the upper echelons of the legal profession, law firms could learn from the example set by the Office of the Solicitor General, where culture and workplace policies have helped foster greater gender equality, say attorneys at Ocean Tomo.
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A Closer Look At Novel Jury Instruction In Forex Rigging Case
After the recent commodities fraud conviction of a U.K.-based hedge fund executive in U.S. v. Phillips, post-trial briefing has focused on whether the New York federal court’s jury instruction incorrectly defined the requisite level of intent, which should inform defense counsel in future open market manipulation cases, say attorneys at Lankler Siffert.